Norway took a partial step in divesting oil and gas stocks in its massive $1-trillion wealth fund, approving the sale of smaller exploration companies while sparing the biggest producers such as Royal Dutch Shell Plc and Exxon Mobil Corp.

After more than a year of deliberation, the government on Friday approved excluding 134 companies classified as exploration and production companies by FTSE Russell, including Anadarko Petroleum Corp., Chesapeake Energy Corp., Cnooc Ltd. and Tullow Oil Plc. The proposal would see the fund sell about $7.5 billion in stocks, Bloomberg reported.

“It reflects to a larger extent the risk we ourselves have --- the bulk of the state’s exposure in Norway is upstream activity,” Finance Minister Siv Jensen said. “We are reducing our vulnerability by choosing to withdraw the fund gradually from this segment.”

The government goes part of the way in meeting a 2017 proposal from the fund, which rattled global markets by arguing for a full divestment of the sector to limit Norway’s overall exposure to oil.

The plan was hailed as a potential huge step by climate activists, some of whom on Friday lamented the limited scope of the decision.

It has been a hot-button issue in Norway, which is seeking to project an image as a responsible environmental steward while pumping oil and gas at a fast clip.

Canada is giving the country’s mining association more than C$325,000 ($242K) to develop a program that would give miners the tools and knowledge needed to better plan for climate change in decision-making at all stages of an operation’s life.

In summer electricity generation reaches its peak in all power plants across the country. However, after the hot season is over, hardly 30% of the power stations operate, the managing director of Mapna Group said.

China’s natural gas demand is set to grow by 14% in 2019 amid a huge government push to spur consumption of the fuel, a senior industry executive said, requiring the nation to import huge amounts of liquefied natural gas.

Me-Metals: Behrouz Borna; member of Iran Minerals Production and Supply Company (IMPASCO) board of directors said: Regarding high attention of IMPASCO to the exploration sectors and extensive exploration operations in some parts of country, we have been able to convert Lead mine of Nakhlak which didn’t have harvestable resources before and had been changed to old Nakhlak, to young Nakhlak through exploring new resources.

ME-METALS: Middle East Mines and Mineral Industries Development Holding Company (MIDHCO) had an active presence at the 18th International Exhibition of the Environment held in Tehran International Exhibition Center on 24-27 Farvardin 1398 (13-16 Apr 2019). Various senior officials visited the exhibition and MIDHCO’s stand including Dr. Eisa Kalantari (head of EPA Iran) and Dr. Masoumeh Ebtekar (Vice President of Iran for Women & Family Affairs & former head of EPA Iran). They have been personally informed about the environmental achievements of this great holding.

Iron ore concentrate production by major Iranian companies increased 17 percent year-on-year in the year to March 2019, exceeding 45 million tons, according to Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Iran exported 4.89 million tons of steel ingots in the year to March 2019, of which 67 percent were sent to target markets in the form of billets and blooms, according to figures by the Iranian Steel Producers Association (ISPA).

Me-Metals: Behrouz Rahmati stock and investment affairs director of National Iranian Copper Industries Co. (NICICO) said: with a great deal of efforts of our colleagues in the export department of the company, the first 50000 tons export shipment of NICICO left Iran to export destinations, Saturday morning, 7 Farvardin 1398 (27 March 2019).

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